Nikola SPAC Presentation Deck

WE ARE NIKOLA A UNIQUE BUSINESS MODEL... t NIKOLA 1: 000 Tõu P Vision: to be the zero emissions commercial transportation system leader Addressing Huge "Green-to-Wheel" Commercial Vehicle Ecosystem TAM • Estimated $600B+Global TAM comprised of both vehicle and energy supply • Tightening global emissions standards require a zero emissions solutions over the near-term Industry Leading Technology Portfolio to Address Specific Use Cases BEV truck with best-in-class range and capabilities, ideally suited for shorter-haul applications . World's most advanced Hydrogen (H₂) FCEV Truck, ideally suited for long-haul applications Enabled by World Class Partnerships and Investments by Strategic Players Partnership and European JV with CNHI IVECO, a global Commercial Vehicle OEM Strong partnerships throughout transportation ecosystem to de-risk business Pace-Setting Speed-to-Market Planned 2021 BEV launch Planned 2023 FCEV launch and H₂ station operations Meeting Strong Demand from Blue Chip Customers $10B-FCEV pre-order book (2+ years of orders), with robust demand for newly introduced BEV truck Anheuser-Busch piloting fleet and H, station operations On a Path to Effectively Scale Green Energy Storage to Ultimately Transform Transportation Fueling Landscape Partnered with NEL to develop first-in-kind H, station infrastructure With a Deep Roster of Management Talent to pursue Vision of Zero Emission Transportation Ecosystem $600B TAM includes truck, repair & maintenance and fuel based on proprietary research from ACT Research

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